President Joe Biden on Thursday made America’s case to national leaders and CEOs attending the Asia-Pacific summit that the United States is committed to high standards in trade and to partnerships that will benefit economies across the Pacific.

“We’re not going anywhere,” he declared.

Fresh off his meeting with Chinese President Xi Jinping, Biden also told business leaders that the U.S. was “de-risking and diversifying” but not “decoupling” from Beijing. But he did not mince words in suggesting the U.S. and friends in the Pacific could offer businesses a better option than China. He also noted that U.S. economies had invested some $50 billion in fellow Asia-Pacific Economic Cooperation economies in 2023, including in clean energy technologies, aviation and cybersecurity.